...is still in play but the wave pattern is now favoring an expanded flat 4th instead of a HT. The volatility at these levels is mind numbing. Today SUNE opened at ~$3.30 and by noon it was down to $2.37 (-28%) only to recover to $3 into the close (-10%). I keep telling people that stocks have no intrinsic value and there is no better evidence than this kind of single day volatility. Nobody knows what it is worth because, being part of a global debt Ponzi, the company probably has negative net worth. Nobody is buying SUNE based on fundamentals folks. They are buying based on the fact that it is trading as if about to BK and if it does not BK then it will go up 10x from here in the next big oil rally that is coming. In other words, it is trading as if it were an option with time value. The market thinks SUNE will expire but it does not know when.
For the record, I think oil bounces hard into 2016 and that SUNE will not BK into that bounce. Its the crash that follows that bounce that will likely kill off SUNE. But for now I see no immediate signs of BK. Never play more than a small percentage on each of these risky shit paper assets! Treat them like options and of course USE STOPS.
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